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updated —Funding Arbitrage Backtester
Size per leg$
R-trip cost
on +$10000.00 per leg · +$20000.00 turnover · funding never covers this cost
Funding ArbitrageLooking at price convergence? → /price-pair
Current Net APR · Snapshot
−2.37%
7d Period Avg+3.02%
swing±18.08%
LONG Lighter · now
+10.52%
7d avg:−4.66%
SHORT Hyperliquid · now
+8.15%
7d avg:−1.64%
Entry Spread Now
+0.004%
NeutralL 0.2298 · S 0.2298
24h range −0.12%…+0.07% · median +0.01%
Long pays every1hShort pays every1h
LONGmaker0%/taker0%SHORTmaker0.015%/taker0.045%
Loading Funding History…
↗Total PnL
−$6.72
−0.07%
$Avg Daily PnL
+$0.83
+0.0083%
★Best Day
+$6.03
Oct 11
◎Open Interest
Lighter$2.08M
Hyperliquid$35.14M⚡Funding APR
+3.01%
annualized · funding only
⚠Execution Cost
−$12.50
entry + exit fees
⏱Payback
15.1d
to break even
◧24h Volume
Lighter$645.7KHyperliquid$4.64MLoading Cumulative PnL…
How it works: Funding PnL is bucketed daily from real settlement history. Execution Cost = round-trip taker fees + fees only (orderbook snapshot stale) on both legs (−$12.50 for size $10,000). Slippage scales nonlinearly with position size — try a larger size to see thin upper levels run out.